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|In Vitro Fertilization Market Business Strategy and Potential of Industry 2027
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|In Vitro Fertilization Market
Primary Boosters and Deterrents
The in vitro diagnostics industry is also gaining momentum
on the back of surging use of fully automated instruments across several
diagnostic laboratories. Compared to the traditional semi-automated tools and
instruments, automated instruments are exhibit significant performance levels,
are far more scalable, reduce the hands-on period of the technologists, deliver
quicker results and also eliminate batch testing. In view of these advantages
and the resultant increase in demand, firms are focused on designing automated
instruments. Dearth in lab personnel along with the escalating test volumes
that require more number of tests also drive the demand for laboratory
automation in the global market.
Market Research Future (MRFR) asserts that the in-vitro
diagnostics market can achieve a growth rate of 8.16% from
2020 to 2027. The market size should also surpass USD 102,500 Mn by the review
With respect to product services, the market caters to
instruments, data management software and reagents kits. In the year 2017, the
reagents and kits segment took the lead with the highest share in the global
market and can continue to dominate with a growth rate of 9.34% over the review
Technology-wise, the key segments are clinical chemistry,
immunoassay/ immunochemistry, microbiology, hematology and molecular
diagnostics. Clinical chemistry segment owns over one-third of the total share
in the global market, considering the increasing use of modern technologies in
the clinical diagnostics field. The molecular diagnostics segment can however,
project the fastest growth in the years ahead.
Major applications are non-infectious and infectious
diseases. Since 2017, the infectious diseases segment has stayed at the top
spot with the highest share of more than 60% in the global industry.
Top market end users are laboratories, academic institutes,
and hospitals. Hospitals segment remains in the lead owing to the huge number
of tests that are conducted in hospital settings.
The in-vitro diagnostics market’s geographical distribution
comprises Europe, South America, the Middle East Africa (MEA), North America,
along with Asia Pacific (APAC).
In 2017, North America and South America together formed a
share of nearly 40% in the global market. The North American market, in
particular, can expect to stay highly profitable throughout the evaluation
period. Additionally, the Asia Pacific market is more than likely to attain the
highest growth rate over the forecast timeframe.
The North American market has been gaining at a stunning
rate, mainly due to the escalating cases of infectious and chronic diseases in
the United States and the rapidly growing elderly population. The soaring
preference for effective point-of-care testing as well as personalized
medicine, presence of Affordable Care Act (ACA) and the rising use of automated
instruments also strengthen the market position in the region. The expanding
application scope of molecular diagnostics along with increasing range of
condition-specific tests and markers with innovations in proteomics and
genomics could create lucrative opportunities for the regional market. Surge in
FDA approvals encourage players to focus more on new launches, which in turns,
aids in market growth.
The Asia Pacific market can procure the fastest growth rate
in the years to come, backed significantly by rapidly emerging economies like
India and China. Improving healthcare infrastructure and the escalating number
of people opting for early diagnosis in view of mounting awareness levels
coupled with the growth in the prevalence of chronic ailments also benefit the
Bio-Rad Laboratories Inc., Sysmex Corporation, bioMérieux
S.A, DiaSorin S.p.A, Ortho Clinical Diagnostics, Abbott Laboratories, Siemens
AG, Grifols S.A, Becton Dickinson and Company, Danaher Corporation, Hoffmann-La
Roche AG, and Thermo Fisher Scientific, Qiagen N.V. are some of the top
manufacturers of in-vitro diagnostics worldwide.
TMRW Life Sciences has introduced the world's first ever
automated cryo specimen management solution for eggs and embryos that are part
of vitro fertilization. The TMRW platforms latest software-based management of
millions of eggs s well as embryos will facilitate a smoother IVF procedure.
The solution renders an unprecedented degree of safety at each phase of
managing embryos and eggs as it accurately identifies every sample using radio
frequency identification tracking, and also continuously monitors via TMRW's
HIPAA-compliant, data-encrypted software.